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| Topic: |
Business
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| Number of pages / Number of words: |
11 / 2854 |
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Price and production controls also caused widespread distortions in China's economy.
Source: China Statistical Yearbook and other resource. 2001 figure is for the first 6 months.
In late 1970s, the government under the late Deng Xiaoping's leadership hoped that gradual opening-up the market and implementing economic reform would significantly increase economic growth and raise Chinese people's living standards...
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Since then, the size of China's economy has grown more than tenfold.1 Between 1979 and 1999, China's GDP grew at an average annual rate of 9.7%.2 The real GDP total in 2000 has passed one trillion U.S. dollars ($8.8 trillion RMB) the first time in history. Two main attributing factors supporting much of China's rapid economic growth are: large-scale capital investment (financed by large domestic savings and foreign investment) and rapid productivity growth...
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